Stock Market & Financial Investment News

Kite Realty Trust completes sale of three non-core properties for $35.2MKite Realty Group Trust announced that it has closed on the disposition of three non-core retail properties generating $35.2M in gross proceeds. During the quarter ending March 31, the company completed the sale of 50th and 12th, a 14,500 square feet single-tenant Walgreens in the Seattle, Washington; Red Bank Commons, a 34,300 square feet non-anchored center in the Evansville, Indiana; and Ridge Plaza, a 115,100 square feet A&P anchored center in the Oak Ridge, New Jersey. The proceeds from the dispositions were primarily used to pay down debt.

Kite Realty Trust closes on final tranche of announced asset dispositionKite Realty Group Trust (KRG) announced that it has closed on the second and final tranche of its previously announced 15-asset disposition for a gross sale price of approximately $318M. The second tranche closing included 7 retail properties for a gross sales price of approximately $167M, or $103M of net proceeds. On September 16, 2014, Kite Realty announced it had entered into a definitive agreement to sell 15 retail properties for an estimated sales price of $318 to Inland Real Estate Income Trust (IRC).